These 3 Factors Suggest Bitcoin Could Be Starting a Fresh Bull Run
Bitcoin and the entire crypto market have seen some intense strength throughout the past day, which has come about as a result of news regarding Square’s acquisition of Bitcoin worth $50 million that will be held on their balance sheets. Investors and analysts alike have been viewing this rapidly growing trend as being highly bullish […]
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Bitcoin has been struggling to break above $20,000, with each visit into the upper-$19,000 region sparking a massive inflow of selling pressure The cryptocurrency’s reactions to these rejections have grown more tempered, which is a bull-favoring sign Where the entire market trends in the mid-term will depend largely on whether or not this resistance can be surmounted anytime soon One trader is noting that there are a couple technical signs that are currently working in […]
While digital currency markets have increased significantly in value a number of crypto asset proponents are wondering how far the next bull run will take them. For instance, the last three bitcoin bull runs saw different price spikes and significant drops below 80% as well. If the next bitcoin bull run follows a similar pattern, it’s quite possible the crypto-asset could reach $160k per unit. At the time of publication, the cryptocurrency economy is well above a half of a trillion dollars and is hovering at $538 billion today. The great 2020 crypto price boom has a number of crypto....
CNBC “Fast Money” host Brian Kelly names three factors that could potentially cause a Bitcoin pullback to occur. CNBC Fast Money trader Brian Kelly sees three potential signs of a price top as Bitcoin (BTC) hits $19,000. Both fundamental and technical factors suggest a pullback could be imminent as the rally becomes overextended.BTC/USDT 1-hour chart (Binance). Source: TradingView.comKelly named three reasons why a short-term Bitcoin pullback might occur. The reasons were the pump of altcoins, overpriced address growth and high funding rates. On Nov. 25, he said on CNBC:“I’m still a....
Technical factors suggest Bitcoin is still in a bull run even after a sharp sell-off from $18,476. After Bitcoin (BTC) price suddenly dropped from around $18,500 to $17,200, some traders began to question whether a local top had formed but there are multiple factors that suggest the bull run is still intact. Following the initial pullback, BTC continuously showed extreme volatility, demonstrating market uncertainty.The four factors that show Bitcoin’s momentum remains strong are whale inflows, a strong market response, resilience above each whale cluster, and high open interest.Whales are....
Following an extensive price correction in the past three months, the Bitcoin bull market continues to hang in the balance. Despite a modest price rebound in April, the premier cryptocurrency is yet to display a strong intent to resume its bull rally amidst a lack of positive market factors. However, crypto analyst Axel Adler Jr. […]